Oregon Homeowners Pay Some of the Lowest Insurance Costs In The Country, But Wildfire Risk Could Change All That

Oregon homeowners benefit from some of the lowest home insurance costs in the nation, even as averages climb in climate-exposed states.

While Gulf Coast and wildfire-heavy markets face severe affordability challenges, new data from the U.S. Census Bureau and the 2025 Climate Risk Report show that Oregon remains relatively affordable for homeowners coverage.

Oregon’s Insurance Costs Stay Affordable

According to the American Community Survey (ACS) data from the U.S. Census Bureau, Oregon homeowners with a mortgage typically pay $1,000–$1,499 annually for homeowners insurance, while those without a mortgage average the same $1,000–$1,499. Overall statewide costs fall into the $1,000–$1,499 range.

Oregon has 1,100,905 insured homeowner households in total—697,580 with a mortgage and 403,325 without. Among mortgaged owners, 52,309 pay less than $100 annually and 28,782 pay $4,000 or more. Among those without a mortgage, 53,999 pay less than $100 and 13,124 pay $4,000 or more.

Compared with nearby states, Oregon is among the most affordable. Washington homeowners also average $1,000–$1,499 regardless of mortgage status. California falls into the same range for mortgaged owners, though far more households there pay premiums above $4,000. Idaho aligns closely, averaging $1,000–$1,499 with a mortgage and $800–$999 without. By contrast, Nevada is slightly lower, with non-mortgaged households averaging $800–$999. This makes Oregon one of the more affordable states on the West Coast, despite its wildfire risks.

Climate Risks Across the Region

The Climate Risk Report highlights how climate hazards are driving premiums higher in vulnerable states. Miami tops the nation, with homeowners paying $22,718 annually, equal to 3.7% of median home value. Other Florida metros, such as Cape Coral and Sarasota, also face extreme insurance burdens.

Oregon does not appear on the report’s list of metros with the steepest insurance burdens, but wildfire is a concern across the state, as it is with nearby California, which has several metros rank near the top nationally for wildfire exposure. Los Angeles has nearly $476.5 billion in home value at severe or extreme wildfire risk, while Riverside has $474.4 billion, representing more than 62% of its housing stock. San Francisco also appears on the list, with nearly $275 billion in homes exposed.

Nationally, 5.6% of homes—worth $3.2 trillion—face severe or extreme wildfire risk, concentrated in California and other Western states. Oregon’s dry summers and forested landscapes leave homeowners exposed, even though statewide averages remain relatively low.

A National Affordability Challenge

Even with Oregon’s relatively affordable costs, the bigger story is national affordability. The Realtor.com 2025 Insurance Affordability Report found that 75% of Americans believe homeowners insurance could soon become unaffordable, while nearly half said they had already faced challenges renewing or obtaining coverage.

Rising costs are reshaping housing decisions. Nearly 30% of homebuyers said they had completely changed their search areas because of insurance concerns, while another quarter said they had overhauled their strategies altogether. A recent analysis of migration patterns shows that some buyers are actively relocating to markets with the lowest home insurance premiums, reshaping demand across the country.

Even more striking, 58% of homeowners nationwide said they would consider dropping coverage altogether if premiums rose too high, with younger generations the most likely to take that risk.

Oregon’s Outlook

For now, Oregon homeowners benefit from stability compared with national hot spots. But with wildfire risk growing and insurers tightening underwriting standards, residents may want to use a home insurance comparison tool to evaluate coverage options. While Oregon enjoys relatively low costs today, affordability could become more of a concern in the years ahead.

This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.